NorthWest Biotherapeutics Inc (NWBO)

[lrdpdx77]

Dennisdave, thanks for your post. I also don't think we get to above $20.00 on release of TLD/Publication. I'm thinking we go to the $5 to $10 range. I think the bigger driver of the SP will be regulatory approvals (including possibly a perceived strong possibility of regulatory, especially FDA approval). I don't think our SP will switch to actual revenue/profit valuation initially because it will take time for those things to ramp up. They will be a positive. I believe companies at this stage will be valued on projected revenue/profit/market share growth. In theory companies are valued at the present value of their projected cash flow. More mature companies have more actual data on historical revenues/earnings to base those projections on. NWBO will continue to valued on estimates that will get better over time. We will use short hand methods of performing this analysis initially as we won't have sufficient revenue/earnings/growth rate data to use. Hence the efforts on the board to estimate value by using a revenue multiple against projected potential revenue. I do think actual revenue results will be useful and will help. I'm just not sure they will provide a good basis for stock price appreciation as they will occur under the specials program which won't capture fully potential demand for DCVax because patients have to pay for it out-of-pocket. Also, initially they will occur before regulatory approvals which will also suppress demand. The revenue gains will be helpful as it will provide internally generated cash flow to fund the company's operations and growth.